Bill Text: TX SB147 | 2013-2014 | 83rd Legislature | Enrolled

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Bill Title: Relating to the amount of outstanding total liability of a mortgage guaranty insurer.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2013-06-14 - Effective immediately [SB147 Detail]

Download: Texas-2013-SB147-Enrolled.html

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S.B. No. 147

AN ACT
relating to the amount of outstanding total liability of a mortgage
guaranty insurer.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (b), Section 3502.156, Insurance
Code, is amended to read as follows:
(b) [A mortgage guaranty insurer shall compute the
insurer's liability for the purposes of this section on the basis of
the insurer's liability under the election as provided by Section
3502.158.] An insurer shall compute the insurer's liability for
leases on the basis of the insurer's liability as determined by the
department.
SECTION 2. Section 3502.158, Insurance Code, is repealed.
SECTION 3. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2013.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 147 passed the Senate on
March 13, 2013, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 147 passed the House on
May 20, 2013, by the following vote: Yeas 144, Nays 0, one
present not voting.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor